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      Add Cash Advance

      Add Cash Advance to an Expense Report.

      Cash Advances can be requested for many reasons. For example, if you are required to travel for work, you may request a cash advance to cover anticipated expenses such as meals, transportation, and accommodation. This advance makes sure you have funds available during the trip. A cash advance can provide quick access to funds to address any unexpected situations, and specific industries or regions may only accept cash payments. 

      Note: This option may be disabled to you by your administrator. 

      To add cash advance to an Expense Report, go to the Add Cash Advance option from the Entry Tasks navigation menu: 

       

       The cash advance window will open with the necessary details: 

       You can enter: 

      • Date Issued – the date when the cash advance was issued to the employee. 
      • Project #/Code - assign a project to this cash advance to track expenses towards this project. Make a selection from the drop-down or learn more about how to set up a Project.
      • Advance Reason – add the reason for this cash advance. 
      • Additional notes - add additional notes for your future reference in this field 
      • Currency – the currency could differ from the currency of the User or Company’s set currency. If it is, enter the cash advance currency, and ExpensePoint™ will display the exchanged amount based on the current XE.com rates. 
      • Exchange Rate – the rates are based on the XE.com latest rates. 
      • Advance Amount – enter the amount of the cash advance. 
      • Converted Total – will display the cash advance amount following the exchange rate. However, you can edit this amount if you have used a different exchange vendor. 

        

      Before you can save the Cash Advance, you will need to enter at least the mandatory fields for: 

      • Date Issued 
      • Advance Amount 
      • Converted Total 

      To save the cash advance record, click on the Save button from the upper menu of the screen. 

       Additionally, you can add any comments to the cash advance for your or your Approver’s reference by clicking on the Comments button in the upper menu of the screen before saving the record.